Paper trading

The terminal runs a paper mode on live market data:

• Prices, candles, the order book and public trades stream from Hyperliquid's public API.
• Orders fill against those live prices with the same margin, fee and liquidation maths described in these docs.
• The paper account starts with 100,000 USDC and is stored only in your browser. Reset clears it.
• If Hyperliquid's feed is unreachable, the terminal falls back to Coinbase spot, then to simulated prices, and labels each mode.

Paper positions are simulated and are not executed through the HyperVeil pool. You enter paper mode from the Trade screen.